FTX has decided to provide a $250 million credit facility to BlockFi, as confirmed by BlockFi CEO Zac Prince on Twitter. The company has issued a press release, stating that this would strengthen the platform. The proceeds from this credit facility will be used for BIA, BPY, and as loan collaterals, as per users’ needs.  Further documentation on this will …

The cryptocurrency exchange Coinbase may face class action lawsuits for not performing due diligence before using GYEN, TerraUSD, which resulted in millions of losses. One suit claimed that the organization failed to tell users about its relationship with Terraform Labs, and the risks associated with TerraUSD (Coinbase Ventures, the investment arm, is the biggest investor in this project). It states …

Budweiser has partnered with Zed Run intending to deploy a tokenized version of Clydesdale draught horses for the NFT horse-based game.  Nearly, $120,000 is given to NFT fan arts, and the company has purchased the Beer.eth domain via Ethereum Name Service in August 2021.  the Budweiser Clydesdales have already known for their horses and racing events. Zed Run is an …

The venture arm of Binance, Binance Labs raised $500 million to invest in startups working on Web3. This is an interesting venture, as the market is entering into a bear phase at the moment. Shares have plunged (including the shares of Coinbase, as per its report), Basically, Web3 is an idea that refers to the newest, Blockchain-based version of the …

In the world of cryptocurrency, Ethereum is a known name, and many companies are planning to offer trading and custody services. Fidelity is one of those big names, and it is (or rather its subsidiary Digital Asset Services LLC) planning to hire 200 people to prepare the infrastructure for this program. The company is looking for people (developers, engineers, and …

Shytoshi Kusama (the lead developer of SHIBA INU) tweeted that the team had met the energy drink brand Redbull. A partnership has been finalized, making it the third biggest corporate deal for the team, the previous ones include John Richmond and Welly. MILKSHAKE, the official SHIB Growth Breed member was present in the meeting and is responsible for making the …

Matrixport is Asia’s largest and fastest-growing crypto bank. Matrixport, a digital asset bank founded by Jihan Wu, a former co-founder of Bitmain, was launched in February 2019 as an all-in-one solution for crypto investing. Matrixport currently manages over $10 billion in assets and prides itself on the protection provided by its institutional-grade custody subsidiary, Cactus Custody. Matrixport’s major services include …

A year ago, China outlawed cryptocurrency mining and all types of transactions. But now, it has established itself as the second-biggest mining hub on the global scale, behind the USA. The Bitcoin hash rate is 21.1 in China, which is a stark contrast to the previous year’s graph. This data is collected from the CBECI information site. From this graph, …

According to a recent verdict from the Shanghai High People’s Court, Bitcoin is a virtual asset, and it is protected by Chinese law. This is applicable despite the current ban on cryptocurrency trading. The Court recognizes Bitcoin’s economic value, and how it exhibits all the properties of an asset. This makes it eligible for being protected the Chinese law. This …